BELARUS NEWS AND ANALYSIS

DATE:

2005-12-12

Belarus Confirms Resumption of Joint Venture Talks With Gazprom

Daily News Bulletin; Moscow - English

MINSK. Dec 12 (Interfax) - Belarussian Economy Minister Nikolai Zaichenko has confirmed that talks with Gazprom on creation of a joint gas venture using Beltransgaz have resumed.

"The joint venture talks with Gazprom have resumed," Zaichenko told reporters on Monday.

Commenting on the existing differences over the assessment of Beltransgaz assets, he said the "the issue will clear up in the course of the talks."

They agreed to an independent valuation of the company's assets, but have not chosen an appraiser yet, Zaichenko said.

The processing of buying back shares from minority shareholders is due to be completed by late December, he said.

Once Belarus has 100% state ownership of Beltransgaz, it will be able to set up a joint venture with Gazprom on a parity basis, he said.

Beltransgaz workers acquired 0.103$ of the company's authorized stock on preferred terms during privatization. Under a presidential decree, the government must ensure the return of these shares to the state at their nominal value.

The creation of a Beltransgaz-Gazprom joint venture is part of the April 2002 intergovernmental agreement on broader cooperation in the gas industry.

Source:

http://www.blackenterprise.com/yb/ybopen.asp?section=ybbf&story_id=86667522&ID=blackenterprise